Upon consummation of the merger and per the terms of the merger agreement, effective on November 20, 2012, Navarre Corp. increased the size of its board of directors by two members, and appointed Jeffrey B. Zisk and M. David Bryant, both former directors of SpeedFC, to fill those vacancies. Under the terms of the merger agreement, and per the terms of the Zisk employment agreement, Messrs.

Zisk and Bryant will initially serve for a one year term, but will be nominated for re-election to the Board at the 2013 Annual Meeting, so that they serve an aggregate term of three years. Jeffrey B. Zisk founded SpeedFC in May 2000 and has been President, Chairman and CEO and Director since that time. He has over 30 years of experience in the fulfillment, technology and retail industries.

Monroe David Bryant, Jr. was a Director of SpeedFC Inc. since 2000. Mr. Bryant is a shareholder in Cox Smith Matthews, Incorporated. Mr. Bryant started the Dallas office of the firm in 2005 and practices litigation across several areas of law including financial fraud and bankruptcy-related litigation, technology and real estate litigation, securities and corporate governance matters and across all areas of business dispute practice.